Blackstone Opens Its First GCC Outside the US in Bengaluru
The firm said it aims to double its India investments to $100 billion over five years.
Key Takeaways
- Blackstone opened its first global capability centre outside the US, in Bengaluru.
- The centre supports finance, technology, HR, legal and compliance work.
- Blackstone has about 170 employees in India, about 80 of them in Bengaluru.
- The Bengaluru team is expected to reach at least 100 employees by year-end.
- Blackstone aims to double its India investments to $100 billion over five years.
Blackstone has opened its first global capability centre (GCC) outside the US, in Bengaluru. The centre will support the firm's finance, technology, human resources, legal and compliance work.
The opening came with a larger India target. Blackstone said it aims to double its investments in India to $100 billion over the next five years, from about $51 billion invested so far. The centre is led by Susan Yung, a senior managing director in Blackstone's credit and insurance investment operations.
Blackstone's Bengaluru GCC at a glance
| Detail | Value |
|---|---|
| What opened | Blackstone's first GCC outside the US |
| City | Bengaluru |
| Functions covered | Finance, technology, human resources, legal and compliance |
| Head of the centre | Susan Yung, senior managing director, credit and insurance investment operations |
| Staff in India | About 170 (about 90 in Mumbai and about 80 in Bengaluru) |
| Bengaluru hiring goal | At least 100 employees by year-end |
| India investment target | $100 billion over five years, up from about $51 billion invested to date |
Who Susan Yung is and what her team will do
Susan Yung is a senior managing director in Blackstone Credit & Insurance's investment operations team. She has worked in India before and was a managing director at Goldman Sachs' captive centre in Bengaluru.
The centre's engineering team will work directly with Blackstone's global chief technology officer.
How big Blackstone already is in India
Blackstone's assets under management have roughly quadrupled over the past decade to almost $1.4 trillion. In India, the firm's holdings include Mphasis and Federal Bank.
Its Indian real estate assets are valued at about $22 billion and cover more than 150 million square feet of office and retail space.
Where Blackstone's India team stands after the Bengaluru opening
Blackstone now has about 170 employees in India, with about 90 in Mumbai and about 80 in Bengaluru. The firm said the Bengaluru team is expected to reach at least 100 employees by the end of the year, and that it aims to take its India investments to $100 billion over five years.
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Frequently Asked Questions
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